I Love My Business – Where’s The Money?

Most females built their businesses based on their passion. You know, a hobby – cooking, baking, sewing, travel, fashion, etc made its way into a full-fledged business venture. For some, it’s the passion to teach and share their knowledge.

Never you will hear that they are doing it for money or power.

“I want to have an extra income for my family”
“I want to help my community”
“I want to share my talent with others”
“I want to inspire”

All noble and sincere and I have no doubt that these are your reasons.

But if we love our business and pouring our heart and soul into it, where’s the money though?

You might have this excitement exploding when you first hatch the idea that you will finally sell your product/service to others. You’ve done everything by the books and prepared for your launch. A Facebook page has been created, a website is now up and running, logo, flyers, the works and then…. crickets!

You might have no sales for weeks or months and you are contemplating if you made the right decision. Should you just quit and go back and start from scratch? Ouch!

Don’t worry, this issue can be fixed and let me give you some practical solutions to deal with it.

Answer this question: Is it the right business for you?

This is quite difficult to answer and the truth is you might be stubborn to insist that you made the right decision. Note that the right business for you is an intersection of the following points:

  • Do you love it?
  • Are you good at it?
  • Will people pay for it?

I love chocolate chip cookies and I can eat chocolate chip cookies every day but am I good at making them? No.
Now, I know for sure that I can learn to make good chocolate chip cookies and I can probably sell them but do I really want to go in business selling chocolate chip cookies (I’m hoping that repeatedly typing chocolate chip cookies will trigger the Universe to send me some tonight).

The answer is NO.

Loving something is easy but not everything you love is a good business idea (think of my chocolate chip cookies). The harsh truth is most hobbies should stay as hobbies unless you have the passion and deep interest in it. Besides, how many interests do you have? Do you think all of them are good business idea? And truthfully these hobbies come and you might end up being tired of them after some time.

Being good at something can be innate (genetically good in music, art) or learned (trained to play the piano, had a degree in Engineering, etc.). Most businesses just require you to learn things (learn to understand basic finance, learn to market, learn to manage people) and if you are deeply interested in a topic, you will learn it and will be good at it later on.

Will people pay for it is a question that should be answered in the beginning during the development phase of your business. Is there a market for it? As an entrepreneur, we have this big ego and narcissistic tendency that we offer is truly magnificent and can stop world wars. It may or may not but in the world of business, it doesn’t matter if people won’t buy it.

Although be wary that you can’t also focus on profit alone because you might stumble on something that will give you monetary gains but over time, if it’s something you don’t love, then you will inevitably lose interest on the business.

Your answer to these 3 factors will determine if your business is a good fit for you. There would be 2 possible answers now:

I love my business; I’m good at it; People will pay for it – if this is your answer then I’m happy for you. Just follow the bits of advice below and see your business grow.

Not all 3 are answered – either you realized you don’t love your business much, or you’re not very good at it, or there’s really no clamor for your product/service. Don’t be disheartened – THIS IS NOT THE END. There’s no rule in the world that says your business or business model can’t evolve. Unless you have a franchise business (no much room for change and creativity) then there’s a way for you to improve or modify how you run things. It might need a little tweak here and there and you’re again aligned to all 3 factors.

The 80/20 Rule

Lots of life coaches will tell you that success is 80 percent psychology and 20 percent skills. On some business, it might be required that you have a degree, certificate, or formal training. You might also have to have a talent for design or math or music to venture into some businesses. But that’s the 20% part.

The other major factor of success is based on the psychological aspect and depends on how much you want to grow, improve, and push yourself beyond what you thought is possible. How exciting it is that we don’t need to be an expert in Finance, Supply Chain, English, Public Speaking, etc. to run a successful business. Amazing isn’t it?

We have heard thousands of rags-to-riches stories and although we might associate it with luck, for me I’m sure that they have just used the 80% of the formula. A housemaid turned restaurateur. A housewife who is now running 100+ franchise of her siomai business. I always get inspired by these stories that’s why I’m always working on the Psychological aspect of success and that’s what I’m teaching here.

“I’m in a business of teaching women how to have a business and life the way they imagine it”

Be careful not to fall in love with your product

You can fall in love with your customers but not your product. Over time, your product needs to improve or re-invented entirely not because it’s bad but that is just how business is.

Consumers change; Behaviors change; Technology changes; and we can’t prevent it. Being stubborn not to deal with these changes will be disastrous to your business.

Learn to love marketing

Marketing is a type of manifestation. I have shared that idea with you earlier and I will continue to repeat this with you – Marketing is Manifestation.

If you love your business then you will need to love marketing. LOVE not LIKE. That’s the truth.
You should be the number one fan of your business and being a true fan means not being ashamed of talking about your business, products or services. Being good at marketing is a skill that’s very essential for all entrepreneurs to learn.

(I wonder if you want to learn marketing techniques? I sometimes wonder what topics you would like me to cover so it would help if you drop a small comment below and share your thoughts ❤️)

I know, I know, it feels uncomfortable asking people to buy your product. Maybe it feels pushy or sales-y or deceptive. Note that this is a money block you need to release and work around.

Think of it this way, marketing is not a way of convincing people to buy or do something they don’t want. It’s not tricking or begging for them to like your products. Rather it is actually helping your potential customers understand what you can offer for them.

As a woman, I want you to love yourself and remove negative thoughts that you are not good enough, not smart enough, not courageous enough. By loving and understanding yourself more you’ll be surprised at how your relationships will improve because of the confidence you gained. This new confidence will give you the boost to be more of service to others, understand the value of worthiness of your product or service, and in result will give you the drive to effortlessly get out and connect to the world.

******

Lastly, I want to give you this advice – FOCUS ON WHAT YOU WANT and not what you’re stress about. Don’t focus on low sales or low engagement but rather on how to improve sales and increase engagement. It might seem the same thing but they’re different.

Remember: You deserve all the good things in the world ❤️

Live The Life and Business You Have Imagined!

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